Traders sold shares of Analog Devices, Inc. (NASDAQ:ADI) on strength during trading hours on Monday. $29.14 million flowed into the stock on the tick-up and $50.18 million flowed out of the stock on the tick-down, for a money net flow of $21.04 million out of the stock. Of all stocks tracked, Analog Devices had the 18th highest net out-flow for the day. Analog Devices traded up $0.19 for the day and closed at $95.13
ADI has been the topic of several research reports. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley boosted their price target on Analog Devices from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. B. Riley reduced their price target on Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 31st. Stifel Nicolaus boosted their price target on Analog Devices from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Finally, Credit Suisse Group boosted their price target on Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 31st. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $104.63.
The firm has a market cap of $35.21 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.14.
In other Analog Devices news, SVP Joseph Hassett sold 17,150 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $97.95, for a total value of $1,679,842.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Peter Real sold 4,595 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $93.07, for a total value of $427,656.65. Following the completion of the transaction, the senior vice president now directly owns 18,195 shares in the company, valued at $1,693,408.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,050 shares of company stock worth $7,712,311. Insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Bank raised its position in shares of Analog Devices by 127.7% during the second quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of Analog Devices during the second quarter worth approximately $130,000. Clarus Wealth Advisors acquired a new position in shares of Analog Devices during the second quarter worth approximately $139,000. Summit Trail Advisors LLC raised its position in shares of Analog Devices by 6,966.6% during the first quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 145,324 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Analog Devices by 98.8% during the first quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 825 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices (NASDAQ:ADI)
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
Featured Story: Trading Strategy
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.